WellConnection expands with ChemTech acquisition
- Business & Finance
WellConnection Group, a provider of inspection maintenance and repair services (IMR), for drilling and subsea equipment used on the Norwegian Continental Shelf (NCS, has acquired Norway-based ChemTech.
The announcement of the ChemTech acquisition came on Thursday, June 30 with WellConnection stating that ChemTech will be held as a separate entity within WellConnection Group under a new name – WellConnection ChemTech.
ChemTech provides preparation for inspection services and is licensed for the treatment of NORM (Naturally Occurring Radioactive Material) on the NCS area.
Rune Haddeland, CEO of WellConnection Group, said: “ChemTech’s high competence and extensive experience within inspection and the fast growing NORM field will substantially strengthen WellConnection’s offering to our clients. We will now establish the preparation and NORM services at other WellConnection locations for the benefit of our clients.”
Per Arne Jensen, Chairman and Senior Partner with EVPE (Energy Ventures Private Equity) which supports WellConnection’s growth strategy, added: “With this acquisition, our position as the North Sea leader of one-stop IMR services for tubulars, risers, and drilling equipment is strengthened.”